In Wake Of Massive Data Breach, Target CEO Steps Down | WAMU 88.5 - American University Radio

NPR : News

Filed Under:

In Wake Of Massive Data Breach, Target CEO Steps Down

In the wake of a massive data breach that exposed the personal information of about 70 million customers last year, Target CEO Gregg Steinhafel is stepping down, the retailer's board announced in a statement Monday.

"Gregg led the response to Target's 2013 data breach," the statement read. "He held himself personally accountable and pledged that Target would emerge a better company. We are grateful to him for his tireless leadership and will always consider him a member of the Target family."

The board added that "now is the right time for the new leadership at Target." Steinhafel's departure is effective immediately.

This is just the latest move in Target's reshuffling. In April, Target appointed a new chief information officer and announced plans for a chief information security officer and a chief compliance officer.

Steinhafel will be replaced on an interim basis by Chief Financial Officer John Mulligan.

The Wall Street Journal reports that Steinhafel is a 35-year "lifer" who was commended for his merchandising ability but whose tenure was inevitably marked by the 2013 data breach.

The Journal adds:

"Target spokeswoman Dustee Jenkins said Mr. Steinhafel's decision to step down was just made recently after extensive discussions.

"Target's board has been meeting monthly since the data breach, where 40 million credit and debit cards and personal information of 70 million people was stolen, was disclosed in mid-December. The last meeting was two weeks ago, Ms. Jenkins said.

"'The last several months have Tested Target in unprecedented ways,' Mr. Steinhafel said in a letter to Target's board Monday, adding that the company has already taken steps to improve its data security."

Copyright 2014 NPR. To see more, visit http://www.npr.org/.

NPR

If These Shorts Could Talk ... New Book Tells 'Worn Stories'

In her new collection Worn Stories, Emily Spivack compiles odes to beloved pieces of clothing, written by celebrities and fashionistas.
NPR

Can Oxfam Nudge Big Food Companies To Do Right?

Oxfam is scoring the 10 biggest food companies on a scale of 1 to 10 on a host of issues, from worker rights to climate change. But will promises translate into concrete changes?
NPR

Rick Perry's Legal Trouble: The Line Between Influence And Coercion

The Texas governor is charged with abuse of office and coercing a public official, but he claims he was just doing what governors do: Vetoing a budget item.
NPR

Tech Week: Uber's Tricks, JPMorgan Hacked & A Desk Microwave

Also in this week's roundup, Amazon's $1 billion purchase surprises some tech watchers. Yet we're most excited about finding a way to avoid physical exertion at lunch.

Leave a Comment

Help keep the conversation civil. Please refer to our Terms of Use and Code of Conduct before posting your comments.